Louisiana State Employees' Retirement System, Baton Rouge, committed $50 million to KPS Special Situations Fund V and $20 million to KPS Special Situations Mid-Cap Fund, said Laney Sanders, assistant chief investment officer, in an email.
The $11.6 billion pension fund's board approved the commitments to the funds managed by KPS Capital Partners at its Thursday meeting.
They are LASERS' first commitments to the manager.
As of June 30, the actual allocation to private markets was 15.4%; the target is 15%.
